MARCH 11, 2015 — Aventura, FL, headquartered TCA Fund Management Group, , has announced the closing of a $10,000,000 USD Senior Secured Debenture with an initial draw set at $4,250,000 for NewLead Holdings Ltd. (OTC: NEWL).
NewLead Holdings Ltd.,a Bermuda registered company with offices in Piraeus, Greece and Charlotte, NC, currently controls a fleet of ten vessels, including five dry-bulk and five tanker vessels and manages one-third party tanker vessel.
NewLead President and CEO, Mr. Michael Zolotas stated, "NewLead is elated to have closed this debenture with TCA. We have been in talks for over a year, with TCA witnessing our growth from just two vessels to over 10 in less than a year. We are looking forward to growing our fleet further with the financial support of TCA."
TCA describes its Global Credit Master Fund as "a short duration, absolute return niche Credit fund specializing in senior secured lending and advisory services to small, mainly listed companies predominately in the U.S., Canada, the United Kingdom and Australia. This specialist business helps to fill the underserved small-cap lending gap which exists in these markets."